Exam Alert: FINRA to adopt consolidated rule on customer confirmations

On June 17, 2011, FINRA Rule 2232, Customer Confirmations, will become effective. This rule consolidates and streamlines the current Continue reading

On June 17, 2011, FINRA Rule 2232, Customer Confirmations, will become effective.  This rule consolidates and streamlines the current customer confirmation rules found in NASD and NYSE rules.  The rule requires that at or before the completion of a transaction, the customer is given a written confirmation that complies with the requirements of SEA Rule 10b-10.  The confirmation must include the settlement date and whether an equity security is callable. Relevant to the Series 7, Series 24, Series 26 and Series 62 exams.

http://www.finra.org/Industry/Regulation/Notices/2010/P122640